《Wintermute Market Report Review: 2025 Liquidity Changes and Outlook for 2026》 (Translated by Azuma, Odaily) In 2025, altcoins performed significantly poorly overall, with annual aggregate returns dropping sharply. Aside from brief rebounds, there was no meaningful or sustained recovery. The average duration of altcoin narrative-driven rallies was about 19 days, a sharp decline from the 61 days of the previous year. Retail investors showed a stronger preference for stock market themes like AI, robotics, and quantum technology, while BTC, ETH, and most altcoins lagged behind other major risk assets. Cryptocurrency is no longer the default outlet for excess risk-taking. The market failed to deliver the anticipated rally in 2025, but this might signal that crypto is beginning to transition from a speculative asset to a mature asset class. Read the full article: http://(wublock123.com)/index.php?m=content&c=index&a=show&catid=47&id=55265